Varma Mutual Pension Insurance Co Sells 10,268 Shares of Analog Devices, Inc. (NASDAQ:ADI)

Varma Mutual Pension Insurance Co decreased its holdings in shares of Analog Devices, Inc. (NASDAQ:ADI) by 8.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,759 shares of the semiconductor company’s stock after selling 10,268 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Analog Devices were worth $25,282,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ADI. USA Financial Formulas increased its holdings in shares of Analog Devices by 87.8% in the 4th quarter. USA Financial Formulas now owns 139 shares of the semiconductor company’s stock worth $28,000 after buying an additional 65 shares during the last quarter. Private Wealth Management Group LLC bought a new stake in shares of Analog Devices in the 4th quarter worth approximately $29,000. New Millennium Group LLC purchased a new stake in shares of Analog Devices in the 2nd quarter valued at $29,000. Riverview Trust Co bought a new position in shares of Analog Devices during the 1st quarter valued at $30,000. Finally, ORG Partners LLC raised its position in Analog Devices by 675.0% in the 2nd quarter. ORG Partners LLC now owns 155 shares of the semiconductor company’s stock worth $35,000 after purchasing an additional 135 shares during the period. 86.81% of the stock is currently owned by institutional investors.

Analog Devices Stock Down 2.5 %

ADI stock traded down $5.42 during midday trading on Friday, hitting $213.64. The stock had a trading volume of 3,437,085 shares, compared to its average volume of 3,368,705. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.69 and a quick ratio of 1.24. The firm has a market cap of $106.01 billion, a price-to-earnings ratio of 49.92, a price-to-earnings-growth ratio of 3.91 and a beta of 1.07. The business has a 50-day moving average of $225.39 and a two-hundred day moving average of $213.97. Analog Devices, Inc. has a 52-week low of $154.99 and a 52-week high of $244.14.

Analog Devices (NASDAQ:ADI) last issued its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.08. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.27 billion. During the same period last year, the business earned $2.49 EPS. Analog Devices’s quarterly revenue was down 24.8% compared to the same quarter last year. As a group, equities research analysts forecast that Analog Devices, Inc. will post 6.33 earnings per share for the current fiscal year.

Analog Devices Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.92 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $3.68 annualized dividend and a dividend yield of 1.72%. Analog Devices’s payout ratio is currently 85.98%.

Insider Activity at Analog Devices

In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $233.94, for a total value of $4,120,151.28. Following the sale, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Analog Devices news, EVP Gregory M. Bryant sold 17,612 shares of Analog Devices stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $233.94, for a total value of $4,120,151.28. Following the completion of the transaction, the executive vice president now directly owns 69,241 shares of the company’s stock, valued at $16,198,239.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward H. Frank sold 500 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $227.24, for a total transaction of $113,620.00. Following the sale, the director now owns 4,748 shares in the company, valued at approximately $1,078,935.52. The disclosure for this sale can be found here. Insiders sold a total of 49,107 shares of company stock valued at $11,301,610 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ADI shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Analog Devices in a research note on Thursday, August 22nd. Bank of America reduced their price target on Analog Devices from $260.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Susquehanna boosted their price objective on Analog Devices from $230.00 to $280.00 and gave the company a “positive” rating in a research report on Thursday, May 23rd. Robert W. Baird raised their target price on shares of Analog Devices from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $250.00 price target on shares of Analog Devices in a report on Tuesday, July 16th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Analog Devices currently has an average rating of “Moderate Buy” and a consensus price target of $251.45.

Analog Devices Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.